U.S. stocks moved lower Tuesday as investors digested data showing a much-needed easing of consumer price inflation in the world's biggest economy.
Here are some of the big movers in the stock market on Tuesday:
1. Moderna MRNA | Up 4.1%
Shares of Moderna (MRNA) - Get Moderna, Inc. Report rose after an official from the World Health Organization said that efforts to develop an African base for Covid-19 vaccine production will focus on trying to replicate Moderna's two-shot Covid vaccine, Reuters reported.
Moderna’s Covid-19 vaccine shot produces more than double the antibodies than Pfizer (PFE) - Get Pfizer Inc. Report and BioNTech’s (BNTX) - Get BioNTech SE Sponsored ADR Report comparable shot, a Belgian study recently said.
2. Microsoft MSFT | Up 1.2%
Microsoft (MSFT) - Get Microsoft Corporation (MSFT) Report shares traded higher after Morgan Stanley analyst Keith Weiss wrote in a research note Tuesday that he expected another 10%-plus increase just ahead, a move that would push the yield on the software giant’s shares to about 0.8%.
Microsoft may boost the quarterly dividend to 62 cents from the current 56 cents, according to Weiss.
“More broadly, the dividend represents a consistent source of income and one component of the durable double-digit total return profile we forecast for Microsoft,” he wrote.
3. Apple AAPL | Down 0.4%
Shares of Apple (AAPL) - Get Apple Inc. (AAPL) Report wavered Tuesday ahead of its flagship product launch event -- dubbed California Streaming -- at which the tech giant is set to unveil the next iPhone upgrade.
4. Zimmer Biomet ZBH | Up 4.6%
Shares of Zimmer Biomet (ZBH) - Get Zimmer Biomet Holdings, Inc. (ZBH) Report advanced Tuesday after the medical-tech company said ZimVie would be the name of the spine and dental business it plans to spin off.
On Tuesday, Zimmer Biomet tapped executives to helm the new company. The company named Richard Heppenstall as finance chief for ZimVie. Heppenstall most recently was chief financial officer at Breg, a provider of orthopedic braces, cold therapy and other medical equipment.
5. Salesforce.com CRM | Down 0.2%
Shares of Salesforce.com (CRM) - Get salesforce.com, inc. Report wavered Tuesday after the customer-relations-management-software provider entered a partnership with FedEx (FDX) - Get FedEx Corporation Report to collaborate on tools for businesses that sell goods online.
The combined tools will help commercial customers manage and fulfill orders and get better visibility into the supply chain, the two companies said.